It's like whales are trying to exit from Solana using this coin.
How does that work ? Converting the coin and then dumping you mean here ?
What's just some weird "whales are bad" conspriracy.
Only way that would work is that those whales would buy every BONK from everyone who got it airdropped and after gaining most of the tokens they would use it on pump & dump scheme.
Some people aren't accepting easy and more plausible answers because they see everything as some interesting plot they uncovered.